Airbus To Sponsor N.Y. Yacht Club's America's Cup Challenger Effort

Airbus EVP Jean-Brice Dumont (left) and American Magic skipper Terry Hutchinson helped announce the deal at the N.Y. Yacht Club.GETTY IMAGES

European aerospace company Airbus is the first top-tier sponsor for the N.Y. Yacht Club’s “American Magic” America’s Cup Challenger effort. The $10M deal includes cash and technology value in kind. Sponsor benefits include branding on the boat, digital media and extensive hospitality. The sponsorship was unveiled on Tuesday at the Yacht Club’s midtown Manhattan HQ. American Magic Commercial Dir Scott MacLeod said that the team hopes to sell three additional Tier 1 sponsorships, with an overall commercial target of $25M-$30M. The next America’s Cup is scheduled for Auckland, New Zealand, in March '21. The Challenger series, which will determine which team will compete with the Royal New Zealand Yacht Squadron for yachting’s top prize, will be held in Jan.-Feb. '21.